Final estimates of 4th quarter 2004 real GDP growth came in at 3.8%. That is the same as the preliminary estimate released last month.
The growth rate of the price index for gross domestic purchases (a measure of inflation) was revised up to 2.9% from 2.8%. As you can see from the chart, the growth of the gross domestic purchases deflator spent all of 2004 above 2%. Excluding food and energy, the picture was somewhat better, but still averaged over 2% for 2004 and considerably higher than in the last couple years.
Click the chart to enlarge.
Also see the NY Times.
Leave a comment